Monday, October 5, 2015

GBP/USD retakes 1.52 handle, awaits UK data

FXStreet (Mumbai) - The GBP/USD pair rose back above 1.52 handle in Asia with gains being capped around 1.5220 ahead of the UK services PMI report.

Eyes UK services PMI

The investors now await the final UK services PMI reading for September. The market expects the headline figure to have improved somewhat from the more than two-year low seen in August. Meanwhile, market’s appetite for the US dollars, after Friday’s dismal payrolls report could also affect the pair.

Ahead in the day, the US ISM non-manufacturing/services PMI will be watched closely to see if the sector continues to provide employment or highlights weakness in the labor market.

GBP/USD Technical Levels

At 1.5212, the immediate resistance is seen at 1.5237 (Friday’s high), above which the pair could rise to 1.53 levels. On the other side, support is seen at 1.52 and 1.5168 (daily low).
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